Trump sparks trade war fears

[rooster59]

Trump sparks trade war fears

By WASAMON AUDJARINT,
PETCHANET PRATRUANGKRAI
THE SUNDAY NATION

 

US President Donald Trump and the first lady Melania Trump dance at the Armed Services ball at the National Building museum following Donald Trump's inauguration as the 45th President of the United States, in Washington, DC, on Saturday. / AFP

 

US PRESIDENT Donald Trump’s rhetoric about trade protectionism in his inauguration speech has worried observers and experts, who warned yesterday that a new trade war could hurt Thailand.

 

They noted that the new American leader’s address focused on protecting workers and companies in the US but had little to no consideration of crucial issues such as foreign policy, core values on rights or an approach to harmony in the diverse country. 

 

The Thai government is preparing for possible impacts after Trump assumed office. Deputy Prime Minister Somkid Jatusripitak has called a meeting of Thai trade representatives from 47 countries worldwide.

 

Full story: http://www.nationmultimedia.com/news/national/30304634

 

 

 

-- © Copyright The Nation 2017-01-22

[canuckamuck]

I'm sure the progressives will have the country in flames from riots within the year, regardless of any decisions from Trump. They've decided he is the antichrist and they will do their best to clog the works.

[Brer Fox]

Seems like the Thai military economic experts have hit the panic button. All their rosy exports and growth predictions may have just flown out the window.

[Somtamnication]

47 countries? Who cares about Thailand! Lotta hope here.

[daveAustin]

1 hour ago, canuckamuck said:

I'm sure the progressives will have the country in flames from riots within the year, regardless of any decisions from Trump. They've decided he is the antichrist and they will do their best to clog the works.

 

One only has to have a difference of opinion to these types and one is automatically a racist bigot. Trump may improve the lives of everyone, stop illegals hitting US turf, do away with IS, not impinge of the rights of women and LGBT, and he will still be the Antichrist. 

[alant]

Anytime I hear of fears in Thailand over protectionism I have to smile. Thailand the hub of protectionism...

[otherstuff1957]

4 hours ago, daveAustin said:

 

One only has to have a difference of opinion to these types and one is automatically a racist bigot. Trump may improve the lives of everyone, stop illegals hitting US turf, do away with IS, not impinge of the rights of women and LGBT, and he will still be the Antichrist. 

 If he does all of those things I will happily join the 'Church of Trump!'.  

 

 

But I would be very very very surprised if the next four years are not a confused, chaotic mess.

[the guest]

It's America first. Thailand is one country that should be familiar with protectionism.

[elgordo38]

7 hours ago, rooster59 said:

Deputy Prime Minister Somkid Jatusripitak has called a meeting of Thai trade representatives from 47 countries worldwide.

Really. How impressive. Will the usual 4 or 5 smaller countries show up?

[elgordo38]

Just now, the guest said:

It's America first. Thailand is one country that should be familiar with protectionism.

Yes my mouth waters every time I look at the Australian beef in the meat counter. Then my eyes hit the price tag and I walk away. 

[Emster23]

I wonder how his fans will react when prices go up across the board, jobs situation doesn't improve (until just a few years ago USA was number one exporter), and those obsolete industries are still obsolete. Will they call that fake news? Can reality penetrate their visions?

[elgordo38]

Just now, Emster23 said:

Can reality penetrate their visions?

I doubt it but I can sometimes smell it due to flatulation outbursts of hot air. 

[USPatriot]

The trade agreement rules were never followed. America always got the short end of the stick only a few countries honored the agreement.

The trade deficit for 2015 is $513,000,000,000

The top 5 exporters to the usa are

1. China

2. Canada

3. Mexico

4. Japan

5. Germany 

[Kiwiken]

16 minutes ago, USPatriot said:

The trade agreement rules were never followed. America always got the short end of the stick only a few countries honored the agreement.

The trade deficit for 2015 is $513,000,000,000

The top 5 exporters to the usa are

1. China

2. Canada

3. Mexico

4. Japan

5. Germany 

And the USA also dragged its heels on Trade agreements

[ramrod711]

19 minutes ago, USPatriot said:

The trade agreement rules were never followed. America always got the short end of the stick only a few countries honored the agreement.

The trade deficit for 2015 is $513,000,000,000

The top 5 exporters to the usa are

1. China

2. Canada

3. Mexico

4. Japan

5. Germany 

 

The top importer from the U.S.A. is Canada, so hardly a raw deal for America.

[natway09]

Actually elgordo, when was the last time you went shopping in Australia?

Exportbeef, oysters, fish & chicken & pork  just as expensive,

About the only thing much cheaper is lamb

[USPatriot]

36 minutes ago, ramrod711 said:

 

The top importer from the U.S.A. is Canada, so hardly a raw deal for America.

In Canada if a company doesn't want an import tax then some manufacturing must be done in canada the duty is 0 to 35% the average tax is 8.35%

[Retiredandhappyhere]

Last week, I believe I read that the Trump presidency would probably have little or no effect on the Thai economy and might even have some beneficial effects regarding human rights problems here, as he might not care as much as his predecessor..  

 

Now, suddenly we hear that he could have a detrimental effect on the Thai economy because he intends to operate the same kind of protectionist policies which Thailand has enjoyed.   The chances of the 47 countries coming up with a viable solution are minimal but it will no doubt be a welcome junket for all concerned at the taxpayers' expense.

 

I am only surprised that they will not all be meeting in Hawaii, but I suppose another expenses scandal so soon after the last one might not go down too well with the public, not that that would unduly concern the powers that be, as the public cannot do anything about it of course, without risking a defamation charge.   

 

[elgordo38]

5 hours ago, Emster23 said:

I wonder how his fans will react when prices go up across the board, jobs situation doesn't improve (until just a few years ago USA was number one exporter), and those obsolete industries are still obsolete. Will they call that fake news? Can reality penetrate their visions?

The country could be a copy of North Korea. A fake restaurant in North Korea. 

[wakeupplease]

At least give the guy the first 100 days then we will have an idea

 

But like Brexit those with the cash knees are wobbling already

[ratcatcher]

"Trump sparks trade war fears"

There are some who believe this may have been an appropriate alternative headline on another subject.

[GiantFan]

WTO regs say that import duties can be at whatever level, as long as all countries are treated equally.  So if Thailand charges 10 % on imports from USA the same would be true for imports from other countries, except when an FTA has been signed.

Since the USA tariff rate is 3 - 5% , with obvious exceptions, the USA is at a disadvantage.  Fairness should dictate we will charge you what you charge us.

Donald needs to get his boys on the job.

[Brer Fox]

9 hours ago, otherstuff1957 said:

 If he does all of those things I will happily join the 'Church of Trump!'.  

 

 

But I would be very very very surprised if the next four years are not a confused, chaotic mess.

And I will be very, very unsurprised if you are wrong!

[mike324]

2 hours ago, GiantFan said:

WTO regs say that import duties can be at whatever level, as long as all countries are treated equally.  So if Thailand charges 10 % on imports from USA the same would be true for imports from other countries, except when an FTA has been signed.

Since the USA tariff rate is 3 - 5% , with obvious exceptions, the USA is at a disadvantage.  Fairness should dictate we will charge you what you charge us.

Donald needs to get his boys on the job.

 

Raising tariffs does not solve the problem, it will only mean lower spendings which is bad for the country too. Solving the currency manipulation is the key and makes the bigger impact.

[GiantFan]

2 hours ago, mike324 said:

 

Raising tariffs does not solve the problem, it will only mean lower spendings which is bad for the country too. Solving the currency manipulation is the key and makes the bigger impact.

And export subsidies.  Chinese exporters get their 17% vat refunded if they export.  

[bandito]

Trump's inauguration hats were, wait for it, Made in China.

[GiantFan]

Team Trump are mulling a 5% tariff on imports.  Currently, weighted average is around 3%.

[elgordo38]

23 hours ago, Emster23 said:

I wonder how his fans will react when prices go up across the board, jobs situation doesn't improve (until just a few years ago USA was number one exporter), and those obsolete industries are still obsolete. Will they call that fake news? Can reality penetrate their visions?

The new catch phrase is alternate news. I doubt if reality can penetrate their vision when 48% percent voted for a impossible dream and hope springs eternal with most of us. I think like George Bush said the next four years will be full of shock and awe.